Risk and Compliance
The importance of a holistic view of risk and compliance issues and the difficulty in achieving it is often recognized as a weakness for many organizations. Therefore, it is indispensable to have an effective strategy for your data and infrastructure.
Key challenges in the governance, risk and compliance space:
Highly dynamic – Ever-changing regulations with increasing focus on tax compliance and fraud management are hindering organizations from taking a proactive approach
Silo implementations – Most organizations have individual department-specific implementations for risk management and regulatory compliance and an enterprise level approach is missing
Upgrading legacy systems – Managing legacy systems and making them compliant with the more mature regulatory guidelines of today
Product dilemma – Choosing the best implementation options from manual or automated solutions
How can Infosys help?
Infosys offers comprehensive governance risk and compliance solutions to:
- Integrate end-to-end risk processes
- Provide an integrated risk view
- Anticipate regulatory needs and proactively address them
- Define policies, processes, and governance, and
- Create actionable reporting dashboard
We have both horizontal and vertical capabilities in the risk consulting and technology space across the spectrum of the risk domain. This includes capabilities in regulatory reporting, Basel III, and operational risk.
Our Risk and Compliance practice also offers the following services to provide end-to-end risk and compliance (GRC) solutions:
Domain consulting - Leverage expertise across a variety of regulations (AML, Basel II-III, FATCA, CRS, etc.) to provide a wholly-compliant packaged solution rather than dealing with each regulation in silos
Platform selection – Help in choosing the best implementation options by doing build vs. buy analysis and vendor evaluation
Solution definition – Data analysis and mapping. Gap analysis in business-as-usual processes from regulatory compliance perspective to uplift existing processes
Product implementation – Extensive experience in implementation of a range of products (Detica, MANTAS, KRM, Sophis, and OFSAA) across various regulations
How we made a difference?
We worked with one of the top four banks in Australia for their strategic FATCA management and reporting. The engagement resulted in delivering a strategic, cost-effective, and automated solution for FATCA that can be reused after the implementation of Common Reporting Standards (CRS).
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